Stornoway completes first funding milestone in $1 bln mining deal
Montréal-based Stornoway Diamond Corp (TSX: SWY) has closed a total of $374 million in private and public financings that will support the construction of its Renard Diamond Project in the James Bay region of north central Québec. The financings are linked to a nearly $1 billion deal struck in April. As part of the overall transaction, private equity firm Orion Mine Finance Group, Ressources Québec and the Caisse de dépôt et placement du Québec will commit US$360 million, $220 million and $105 million, respectively.
27 May 2014•10 mins read
